Buying a house is not age related, it is circumstance and or opportunity.
My boyfriend and I rented a cottage when I was 19 and he was 23. The landlord told us that if we ever wanted to buy the cottage, he would offer it to us first when he moved down south in a few years. We married and sure enough, four years later, he offered us the cottage at a great price that we could not refuse, so we bought it. I was 22 and my husband was 26 when we bought the house. We just happen to be very lucky to stumble upon a rental that credited us four years worth of rental payments toward the purchase price of the cottage.
When I was 27 and expecting a baby, we enlarged the cottage and created a 1800 sf house as we had great borrowing power on account of beginning with the cottage equity while paying an extra $100 a month toward the principal amount of the mortgage. Fast forward...............I paid my house off when I was 52 years old. Again, if it were not for the special circumstances and opportunities, I would have never owned this house all of these years.
· 1 year ago